BGRIM’s Sales Grow 16% from 3 SPPs, Booking ฿1.86bln. of Profit in 2018, ฿0.17 Dividend

B.GRIMM Power Public Company Limited (BGRIM) has reported its consolidated financial statement 2018 through the Stock Exchange of Thailand as follows:

Sales and service income increased 16.2% YoY to THB 36,585 million and 2.5% QoQ to THB 9,933 million. The gain was due to an increase in revenue after the commencement of commercial operating of ABPR3 in February, ABPR4 in June and ABPR5 in October with a total installed capacity of 399 MW which sell electricity to EGAT at 270 MW under a 25-year PPA.

However, the cost of sales and services increased from 22,144 million in 2017 to 26,522 million in 2018 primarily due to an increase of natural gas cost by 22.1% YoY and selling, general & administrative expense also rose by 15.8%.

Thus, BGRIM reported a decline of 12.41% in profit in 2018 from THB 2,126 million to THB 1,862 million.

 

Moreover, BGRIM has announced that the company is proposing a dividend payment from operating period in second half of 2018 to the shareholders at the rate of ฿0.17/share in cash to be paid on May 10, 2019. The ex-dividend date is March 13, 2019.